Question

what service does the bank provide that stops fraudulent checks from clearing the bank?

what service does the bank provide that stops fraudulent checks from clearing the bank?

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Answer #1

bank is supposed to keep your money safe. Yet there are any number of instances of fraudulent withdrawal of money from bank accounts. While in some cases, such fraud takes place with the connivance of the bank staff, in others, the negligence of the bank staff results in clearance of forged cheques.The banks refuse to accept that a fraud has taken place. And then they try to escape liability by pointing to "contributory negligence" on the part of the customer. Here are a few decided cases of the National Consumer Disputes Redressal Commission and the Supreme Court that clearly show the way to victims of such fraud.Whatever may be the cause, the law is clear — the bank has to take responsibility for its action in clearing a forged cheque and refund the amount illegally withdrawn from the customer's account

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